About 55% of properties in the US are managed by property management companies.
Property management is no small task, and unless you have a lot of experience, it's best to work with a company that offers professional commercial property management services. While this is often a good idea, it can be difficult to decide on a company to go with.
In this guide, we'll go over how you can find a commercial property management company to hire. Keep reading for more.
Ask for Referrals
If you have any friends, family, or coworkers that currently use a property management company, you can ask for their opinions. They might be able to suggest the company they currently work with or another one they've used in the past.
It's worth noting that what you need from a property manager might differ from the needs of other people you know. Don't just go with a company that someone says is good. You should ask specific questions that align with the type of property manager you're after.
Do Online Research
The internet has become one of the best places to look into companies these days. Whether it's real estate services, maintenance and repairs, property management solutions, or something else, you'll be able to find plenty of information online.
You can look at a company's website to see information about the specific services a property management company offers. You'll likely also be able to find examples of their work and even reviews from other clients they've worked with.
Visit the Properties
It's worth noting that any property management company will always try to sell their services as best they can. You can get an idea of how good they are from their website, but for a more accurate representation, you could visit their properties.
If the properties they manage look run down, consider this a red flag. Conversely, if the properties are in a good state, it's a sign that the company is reliable. You may even be able to speak to the tenants to get an idea of the experience they've had while living there.
Check Their Licenses and Certifications
In California (and several other states) property management companies must legally have a real estate broker's license or property management license. You can check with your local Real Estate Commission to verify this.
Any company that doesn't have the appropriate licenses and certifications should probably be avoided. Note that just because a company does have these, that doesn't automatically mean they'll provide a good service.
Ask About Their Experience
In terms of property management, experience is a huge factor. When looking at this, don't just check that a company has been in business for a while.
You want to make sure they have experience managing your type of property. This is a good way to get an idea of how prepared they'll be to help you.
The Right Commercial Property Management Company for You
PMI Contra Costa is a full-service residential and commercial property management company. We've been serving Walnut Creek and the surrounding area for over 20 years. Contact us today to schedule a consultation with a member of our team.
